After dilly-dallying for the day spot nifty moved with a sudden spurt to end the day on a positive note. Spot nifty has moved all the week in sideways after opening the week with a high of 5190. After nearly four trading days we are yet to cross this high. We can say so near yet far with 25 points to be taken out for a breakout. Spot nifty move looks well channeled and till its maintaining that it will auger well for the trend. Only remorse is yet to make a new high. Was it a distribution day ?So another close for the week with a question in mind will it make a high on Friday. MFI is yet rising so no questions on it. So the suspense is interesting poised on spot nifty for Friday. Intraday traders can look at the levels on spot nifty to trade on Friday.
No trade between 5147 and 5183(To avoid whipsaw)
Buy above 5183 sl of 5163
targets 5201-5219(add positions breakout on the upside)
5237-5255-5273-5291-5307.
Sell below 5147 sl of 5167
targets 5129-5111(add positions breakout on the downside)
5093-5075-5057-5039-5021.
Happy Trading !!!
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